January 29, 2003	Wednesday	Ziqa’ad 25,1423

ISLAMABAD, Jan 28: Adviser to Prime Minister on Finance, Shaukat Aziz, who has recently attended the World Economic Forum in Davos, on Tuesday said world economic community is concerned about slow-down across the world and the uncertainty over Iraq that has added to the slowdown.

In an interview to BBC radio, Shaukat Aziz said Finance Ministers at the forum discussed raising of cheaper debt. There was a growing feeling that structural reform is needed not only by developing countries but by developed countries as well.

Agriculture subsidies in Europe and the US also came up for discussion, he said and added the subsidies hurt the poor farmers of countries like Pakistan. There was general agreement to move on this issue, the advisor said.

To a question he said that Pakistan was willing to repay old expensive loans to International Monitory Fund (IMF).

To another question, Shaukat Aziz said Pakistan always believes that a strong, stable and economically vibrant Afghanistan is good for the world and its neighbours.

He said the economy of Pakistan and Afghanistan is very much inter- linked. Afghanistan is a land-locked country so a lot of the goods go through Pakistan and Iran.

Pakistan’s private sector is active in Afghanistan and Afghan traders come to Pakistan and buy a lot of goods, he said.

However, he said if aid begins flowing in Afghanistan, the economic activity would pick up and Pakistani companies would compete in prices and quality that would boost the economy.—APP